Page:United States Statutes at Large Volume 108 Part 5.djvu/708

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108 STAT. 4198 PUBLIC LAW 103-403-OCT. 22, 1994 SEC. 415. GIFT AUTHORITY. Section 8(b)(1)(G) of the Small Business Act (15 U.S.C. 637(b)(1)(G)) is amended by striking "section 8(b)(1) of this Act" and by inserting "this Act and to cany out the activities authorized by title IV of the Women's Business Ownership Act of 1988", SEC. 416. CONFORMING AMENDMENT. The table of contents for the Women's Business Ownership Act of 1988 (15 U.S.C. 631 note) is amended by striking the items relating to title IV and inserting the following: "TITLE IV—DEVELOPMENT OF WOMEN'S BUSINESS ENTERPRISE "Sec. 401. Establishment of the Interagency Committee. "Sec. 402. Duties of the Interagency Committee. "Sec. 403. Membership of the Interagency Committee. "Sec. 404. Reports from the Interagency Committee. "Sec. 405. Establishment of the National Women's Business Council. "Sec. 406. Duties of the Council. "Sec. 407. Membership of the Council. "Sec. 408. Definitions. "Sec. 409. Authorization of Appropriations.". p^epl^^fS"^ TITLE V—RELIEF FROM DEBENTURE A^^of'im PREPAYMENT PENALTIES 15 USC 661 note. SEC. 501. SHORT TITLE. This title may be cited as the "Small Business Prepayment Penalty Relief Act of 1994". 15 USC 697f SEC. 502. INTENTION OF CONGRESS. (a) IN GENERAL. — The Small Business Administration shall fully utilize the $30,000,000 appropriated in Public Law 103-317 to reduce, in accordance with this title and the amendments made by this title, prepayment penalties imposed in connection with debentures issued under— (1) section 303 or 503 of the Small Business Investment Act of 1958, which have been purchased by the Federal Financing Bank; and (2) title III to companies operating under section 301(d) of such Act, which have been purchased by the Small Business C Administration. (b) EQUAL OPPORTUNITY.—In order to provide an equal opportunity to participate in the program authorized under this title, the Small Business Administration shall afford each borrower or issuer of a debenture subject to this title, not less than 45 days to elect to participate and to provide an earnest money deposit. The Administration shall subsequently allow a period of not less than 4 months, during which those borrowers or issuers that elect to participate shall be allowed to complete the prepayment process. (c) RESTRICTIONS ON PARTICIPATION. — In no event shall the Small Business Administration— (1) allow any borrower or issuer to participate in the program if the borrower or issuer fails to— (A) make a timely election and provide the deposit on a timely basis; or (B) complete the prepayment process within the required time; or